By Kwanwoo Jun
Naver Corp. (035420.SE) reported its third-quarter results on Thursday. Here is what you need to know.
NET PROFIT: The South Korean internet giant posted net profit of 125.40 billion won ($107.2 million), compared with KRW99.00 billion in the same quarter a year earlier.
REVENUE: Third-quarter revenue rose 19% from a year ago to KRW1.665 trillion.
WHAT WE WATCHED:
--ABOVE CONSENSUS: Naver's net profit for the third quarter jumped 27% on the year and beat the FactSet forecast of KRW123.97 billion.
--E-COMMERCE: Among the key drivers of solid growth was its online-payment service, Naver Pay, set to be spun off Friday for further business expansion.
--BETTER OUTLOOK: Daiwa Capital said it expects Naver to report better earnings in 2020 on likely solid revenue growth from its new mobile-based advertisement, commerce and payment segments.
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